Pemex placed 3 billion dollars in 30-year bonds and there was participation of investors from the US, Europe, Asia, South America and the Middle East.
Petróleos Mexicanos (Pemex) concluded on Thursday the placement of debt for 7,500 million dollars in the international market. The bonds, the company said, registered a subscription of 5.1 times.
The total demand for the bonds was 38 billion dollars and the issuance was attended by investors from the United States, Europe, Asia, South America and the Middle East.
The operation, which is part of the debt refinancing strategy announced Wednesday, was divided into three seven, 10 and 30 year bonds.
The national oil company placed 3 billion dollars in 30-year bonds with a yield of 7.7 percent; 3 thousand 250 million dollars in 10-year instruments and 1,250 million dollars in seven-year bonds.
These last two with interests of 6.85 and 6.5 percent, respectively.
Initially, the oil company had told investors that it was looking for between 5 billion and 6 billion dollars before launching the agreement for 7,500 million dollars based on an order book of 37 billion dollars according to people With knowledge of the transaction.
Pemex seeks to attack its debt burden on three fronts. An injection of 5 billion dollars in cash from the government this week will be used to repurchase ten series of bonds due in the next four years, according to a statement on Thursday. The proceeds from the sale of bonds will be used to refinance short-term debt, and the company also expects to launch an exchange offer aimed at dollar denominated notes with maturities between 2022 and 2048.